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Consider the following total cost schedule for a perfectly competitive firm producing ballpoint pens. Output per period TVC ($) TFC (5) TABLE 9-3 26) Refer

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Consider the following total cost schedule for a perfectly competitive firm producing ballpoint pens. Output per period TVC ($) TFC (5) TABLE 9-3 26) Refer to Table 9-3. Suppose the prevailing market price for this firm's product is $0.42 and the firm produces its profitmaximizing level of output. At this price A) the firm is earning zero economic profits. B) the firm should increase output. C) the firm is earning positive economic profits. D) the firm should decrease output. E) the firm is suffering economic losses and this firm will exit the industry

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